The hottest PP weekly review is sluggish in chasin

[PP weekly review] sluggish pursuit, stop and callback

I. this week's market (June 4 to June 8):

although the oil price fluctuated higher this week, the China Plastics warehouse receipt market failed to continue to rise, and the market callback pressure was obvious, leading to a wave of adjustment. By Friday, the China Plastics warehouse receipt index was at 1339.33 points, down 5.36 points from the end of last week. This week, PP warehouse receipts also stopped rising and made a slight correction

on Monday, the main PP warehouse receipts opened low as a whole. After a short rebound in the early stage, the price fell back quickly. In the late stage, the decline slowed down, and the whole market closed sharply at the end of the day. The PP warehouse receipt index fell 11.38 points, the transaction volume shrank significantly, and the order volume increased slightly. Affected by the sharp rise of futures oil on Tuesday, PP warehouse receipts stopped falling and rebounded, and rose as a whole in the opening session. Then the price volatility fell slowly, and closed up slightly in the late session. The index rose 5.32 points, and the trading atmosphere turned cold, with both volumes significantly lower. On Wednesday, PP warehouse receipts mainly opened low, the price rebounded in shock, and closed up in the late trading, with the index rising 5.66 points. The transaction volume increased significantly, and the order volume increased significantly. On Thursday, PP warehouse receipts were mixed at the opening, with intraday prices fluctuating and falling, and the index closed down slightly at 2.97 points at the end of the day. The volume of transactions decreased significantly, and the order volume continued to increase. Over the weekend, PP warehouse receipts opened slightly higher, followed by a downward price shock, and closed slightly lower in the end, with the index falling 1.55 points. Trading volume continued to shrink and order volume increased. As of Friday's close, the PP warehouse receipt index closed at 1347.63 points, down 4.92 points from last weekend. The trading atmosphere was active this week. The average daily trading volume was 18970 tons, a decrease of 5919 tons compared with last week. The order volume this weekend was 8984 batches, an increase of 999 batches compared with last weekend, and the order volume rebounded significantly

the transaction details of a week are as follows:

warehouse receipt variety

settlement price (yuan/ton)

PP warehouse receipt average transaction this Sunday (ton)

PP warehouse receipt order quantity (batch)

this weekend

last weekend

rise and fall

this week

last week

increase and decrease

this weekend

last weekend

increase and decrease

long live the people's Republic of China

pp0706

12153

12297

144 ↓

18970

24889

5919 ↓

8984

7985

999 ↑

pp0707

12377

12465

88 ↓

pp0708

12468

12507

39 ↓

Pp0709

12461

12510

49 ↓

pp0710

12490

12399

91 ↑

second, comprehensive analysis:

the weekly K-line chart of PP index this week closed short, and the production capacity in 2018 is expected to exceed 1million ton line, with the entity extending horizontally. The daily K-line chart of the index closed with four Yin and one Yang. On Monday, the entity moved down significantly to the five-day moving average, and the price fell sharply. From Tuesday to Friday, the entity ranked horizontally, showing an adjustment trend, and the price was significantly supported by the five-day moving average. On the whole, this week, although the transaction volume was significantly reduced compared with last week, the transaction volume was ok, the trading atmosphere was still active, and the order volume gradually rebounded. This week, the opening of the brin line narrowed slightly, and the price line gradually returned to the medium track; KDJ index fell from overbought areas; MACD indicator red column continued to shrink

in terms of news, the international futures market price rose sharply this week. By the end of this Thursday, WTI and Brent closed at $66.93 and $71.22/barrel, up $1.85 and $2.15/barrel respectively compared with the end of last week. In terms of PP spot goods, the ex factory price of domestic petrochemicals has been increased by RMB/ton. At the beginning of the week, local markets continued the rising trend of last week, with a good trend, and then basically showed a stable situation. The utilization field of plastic with small prices in some regions is expanding and rising and falling. The impact of Sinopec's price increase on the market is not obvious, and downstream demand has never been seen in large quantities. Merchants are cautious about the future market, with strengthened shipping intention, and some are still cautious about the future market

in general, PP warehouse receipts ended the week with a correction, the market consolidation was stagnant, and the buying advantage was no longer there. There was not much optimism in the market next week, and the price might fall further. It was better to operate cautiously, close the work piston closely, and move downward by self weight to note the fundamental trend

(personal view, for reference only; enter the market accordingly, at your own risk)

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